Goldman Sachs Group, Inc. raised its target price for Honeywell International Inc. (HON.US) to $262, entering a period of valuation realization from the split.

On February 23, Goldman Sachs Group, Inc. raised its target price for Honeywell International Inc. from $236 to $262 and maintained a "buy" rating. This valuation primarily reflects Goldman Sachs Group, Inc.'s updated valuation model for Honeywell International Inc. following its business restructuring and asset divestitures. On the same day, reports indicated that Honeywell International Inc. has agreed to proceed with the acquisition of Johnson Matthey's catalyst technology division. The acquisition price has been decreased from the initially announced 1.8 billion in May to 1.325 billion. Additionally, both parties have decided to extend the transaction deadline to July 21, with the option to further extend it to August if necessary. After the completion of the transaction, Johnson Matthey plans to return approximately 1 billion to shareholders. This amount will be distributed through a special dividend and stock buybacks. The company stated that its focus on cash flow strategy is progressing steadily and expects financial performance to remain in line with the outlook for 2025-2026. In the past year, Johnson Matthey's stock price has risen nearly 60%. This increase since the initial announcement of the transaction shows strong investor reaction to the planned changes. Honeywell International Inc. is a comprehensive company with business operations covering global markets. Its business portfolio is supported by Honeywell International Inc. Accelerator Operating System and Honeywell International Inc. Forge platform. As early as 2024, Honeywell International Inc. initiated the spin-off of its Advanced Materials business, and successfully facilitated the business to be independently listed as Solstice Advanced Materials in 2025. Subsequently, the company announced further spin-offs of its aerospace and automation businesses in early 2025, with the goal of achieving full independent operation of its core sectors by the second half of 2026. Overall, Goldman Sachs Group, Inc.'s core viewpoint emphasizes the valuation premium of Honeywell International Inc. transitioning from a "traditional diversified industrial giant" to a "pure industrial technology pioneer." With the spin-off process entering its final stages, Honeywell International Inc. is attracting more technology investors seeking high growth and high profits in 2026 in the capital markets.